GBP/JPY – 30M – SELL

Additionally a ‘Double bottom retreat down’ chart formation is existing. The chart picture shows ‘Double bottom retreat down’. which is a bearish chart scenario. The pair is likely to go down.

The currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline downwards

A continuation of the bearish trend downwards to the next support level at 193.75600 is expected.

Caution: A possible trend reversal in the direction of the resistance level at 195.49300 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish signal. The currency pair is likely to fall.

Additionally a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which could be a negative chart signal. The currency pair could go down.

Additionally a ‘Three Outside Down’ chart pattern is detected. The candles show ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

195.49300 – 195.51700 – 196.23600 – 193.75600 – 194.70800 – 195.28900

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down